Cherokee Company began operations when it issued common stock for $81,500 cash. it paid $73,350 cash in advance for a one-year contract to lease delivery equipment for the business. It signed the lease agreement on March 1 , Year 1 , which was effective immediately. Cherokee recelved $93,725 of cash revenue in Year 1 . Required a. \& b. Record the March 1 cash payment and adjustment requilred as of December 31 , Year 1 in general joumal formot. c. Show all events in a horizontal statements model. d. \& e. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of net cash fow from operating activities for Year t? Determine the amount of prepaid rent Cherokee Company would report on the December 31 . Year 1, balance sheet. Complete this question by entering your answers in the tabs below. Record the March 1 cash payment and adjustment required as of December 31 , Year 1 in general journal format. (II no entry is finquired for a transgctionjevent, select "No journal entry required" in the firet account field. Do not round intermediate calculationsis. Journal entry worksheet Journal entry worksheet Record rent paid in advance. Notei Enter debits before credits. Journal entry worksheet Record the adjusting entry for prepaid rent. Notei Enter debits before credits. Show all events in a horizontal statements model, (Record the events as they occurred in question dota. Enter any decreases to account balances and cash cutfows with the Statement of Cosh flows column, use OA to designate operating octivity, iA for investing activity, FA for francing activity, and NC for net change in cosh, Not all celly not round intermediate calculations.) 8 e. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of ne ow from operating activitles for Year 1? Determine the amount of prepaid rent Cherokee Company would report on the Dece ear 1 , balance sheet. Complete this question by entering your answers in the tabs below. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of net cash flow from operating activities for Year 17 Determine the amount of prepaid rent Cherokee Company would report on the December 31, Year 1 , balance sheet. (Do not round intermediate calculations.)